Industry Noize: A Shed Goes Green

A recent report on the financial benefits of the county owning and managing the St. Augustine Amphitheatre in Florida shows the facility is paying off.

The St. Johns County Board of County Commissioners announced during a public meeting the 4,075-capacity shed had a total impact of $17.3 million with $10.4 million value added – the equivalent of gross domestic product – for last year.

“If you’re still considering whether the Amphitheatre is a worthwhile investment for the county, if you just take the $10 million in gross domestic product as a measure of net income and divide it by the $5 million operating budget, you get a benefit cost ratio of 2:1, which by conventional standards would be a good investment,” study co-author Alan Hodges told the board, according to the St. Augustine Record.

The study data was reportedly compiled from events at the shed last year along with interviews with about 900 patrons and money spent on tickets, concessions, overnight lodging and related spending outside of the venue, the paper said.

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